Verizon begins tender offer for Terremark shares

Verizon Communications Inc. on Thursday began its tender offer to purchase all outstanding shares of Terremark Worldwide Inc. The company said last month that it plans to buy the provider of information research services in a bid to offer more Web-based services to its business clients.

Terremark provides "cloud" computing services, allowing companies to store data and software on remote servers instead of their own computers. It as well provides research infrastructure services. Verizon has said the deal helps speed up its strategy to offer "everything-as-a-service" to businesses and government customers.

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